The National Bank closed Wednesday bank Eurostandard AD Skopje due to its failure to meet the minimum operating criteria.

National Bank Governor Anita Angelovska-Bezhoska told a press conference that the bank’s closure will not bring into question the stability of the banking system, while deposits will be reimbursed within the legal deadlines.

The central bank will file tomorrow a proposal to the competent court over the opening of bankruptcy proceedings in Eurostandard.

In accordance with the state as of 31 July 2020, 136,619 depositors will be reimbursed MKD 4,4 billion (EUR 71,31 million), while the remaining 780 depositors will either not be compensated or partially compensated because amounts up to EUR 30,000 are covered.

We assure the public that we have done our utmost to come to a different outcome and prevent the bank’s closure, said Angelovska-Bezhoska.

Eurostandard has been under enhanced supervision due to risks in its operations. The central bank issued measures and enhanced the intensity of the supervision in order to remove the shortcomings, including limitations to the credit activity.

According to the Governor, the key problems in Eurostandard resulted from past weaknesses not current state of affairs.